Mexico’s real estate has experienced many changes in its landscape over the past years. Most of these changes and trends are on the positive side, cementing the booming state of the industry. The year 2015 has seen major trends developing and will influence the industry’s run in the future.
Let’s have a quick review of these powerful real estate trends that will help us in making decisions whether investing in Mexico’s real estate is worth considering.
Firstly, house prices are still pretty low in Mexico after they plummeted following 2008 but real estate trends in Mexico show that prices are on the rise. 2015 and 2016 will be good years to get great prices before property really begins to rise once more.
Excellent Exchange for Buyers
With the ever growing American dollar, comes the rush of American visitors willing to purchase properties in Mexico. The value of the dollar continues to rise in comparison to the peso. Investing and living in Mexico has therefore become within reach for many Americans as the US dollar’s purchasing power is enjoying a high. Canadian dollars also offer a highly favorable exchange rate.
More Construction of Properties for Retirement
Constructing condos with smaller units is on the rise this year, 2015. This makes it affordable for US and Canadians to purchase their dream houses after retirement. With modern times come modern changes, and so too will you find the designs and decor of most new constructions in Mexico compatible with modern tastes and trends. Elegant and modern buildings that promise lavish living is the industry’s trend nowadays. Destinations like Riviera Nayarit, Puerto Vallarta, Cancun and Cabo San Lucas remain at the forefront of trending real estate in Mexico.
Mexico’s Healthier Economy
Here’s one great reason why investing in Mexico is a wise idea. Mexico’s evermore stable economy makes investments rise in value at a fast paced rate. As the government puts emphasis on educating its citizens to fully arm them for future industrialization the country sees a rise in better jobs and opportunities. These measures help the economy in the long run and makes your investments more secure and safeguarded.
Trends in Loans and Borrowing that Affect Real Estate
On a downside, Mexican banks have changed their system and tightened up real estate loans concerning foreigners borrowing. Some measures have been introduced that strictly monitor investments done by foreigners. However, the rise of developer financing has helped to counteract these moves. Most luxury property developments of any worth offer some kind of private financing.
Mexico is Still Charming Expats
More than a real estate trend for 2015 and more like a continuation of an established reality, expats still seem to love Mexico. Mexico promises an unparalleled lifestyle, with its many features and outstanding traits, it has been the dream of many people to permanently live their life in the sun. This year 2015 is the best time to start it.